Buy Shiba Inu (SHIB)
The main reason for the appearance of meme tokens today is the desire of their issuers to make a profit. Developing PR strategies for their projects, they adjust to current trends and create the information agenda necessary for promotion. Recently there has been a wave of CryptoKitties, today "dogs" are popular, and there will probably be more in the future. Perhaps the creation of memecoins will eventually become a kind of independent industry that will exist as long as there is a cryptocurrency market (which, in turn, will always exist, even in the case of the most stringent regulation). Dogecoin is the leader in the coin meme flock, but there is a coin that is stepping on his heels - Shiba Inu. We decided to tell you about this fast growing Ethereum token.
What is Shiba Inu (SHIB)?
Shiba Inu is an ERC20 cryptocurrency powered by the Ethereum network and is rapidly gaining traction as an alternative to Dogecoin. We can say that this is a fake of the first meme coin, especially since the DOGE symbol also refers to the Shiba Inu breed, but the recent successes of SHIB cannot be called a joke.
The creator is a person or group of people under the pseudonym Ryoshi. He / they do not disclose their identity. According to shibatoken.com, SHIB emerged as “an experiment out of decentralized spontaneous community building” and is the first of several planned dog-related coins.
SHIB has grown by over 2 million percent since its inception (July 31, 2020), far exceeding the growth rates of even Bitcoin or Ethereum since their inception.
This is an incredible number for a coin that literally came out of nowhere.
The project was distinguished by extraordinary events. For example, its organizer sent 505 trillion SHIB to Vitalik Buterin. The white paper states that the coins were burned in this way. The rest of the tokens were blocked on Uniswap in the ETH liquidity pool. This step provided the opportunity to freely purchase tokens for any market participant, including the creator himself.
According to Ryoshi, 10 ETH was used to create the pool, allocated by one of his friends for the needs of the project. After that, the keys allowing to receive the funds blocked in the smart contract were destroyed.
The project was initiated by at least one other person. Ryoshi met him at the 2019 Osaka Devcon. It is known that he is a successful entrepreneur for whom this amount is insignificant.
How does the Shiba Inu ecosystem work?
The key element of the ecosystem is the SHIB token. The original issue was 1 quadrillion coins. The ecosystem also uses Leash Dogecoin Killer (LEASH) and Bone ShibaSwap (BONE) coins. They appeared much later than SHIB. The LEASH offer is about 108,000 coins, all of which are in circulation. The BONE emission is 250 million tokens.
The advantages of Ethereum allowed ShibaSwap to be highly decentralized. Specialists from various fields worked on the platform. The developers plan to make it the most popular and the largest in terms of trading volume on the network.
Difference between SHIBA INU and Dogecoin
Shiba is competing for user attention with another meme cryptocurrency, Dogecoin. Shiba Inu as a project initially set itself the goal of overtaking Doge. The difference between these similar currencies is that Doge is decentralized and its developers only act as consultants, while Shiba Inu is dependent on Ethereum development decisions. If Doge needs to be mined, then SHIB tokens were immediately issued in the amount of 1 quadrillion. Experts believe that the Shiba Inu token has advantages over Dogecoin. He believes that it is incorrect to call Shiba Inu a clone, since the project has a full-fledged ecosystem with its own decentralized exchange, the ability to create non-fungible tokens (NFT) and smart contracts.
What are the advantages of Shiba Inu?
- Trillions storage capacity.
- Security and decentralization.
- Development of new add-ons - Bone DogeCoin Killer.
- Support for NTF marketplaces and DEX exchanges.
- Work on the Ethereum blockchain.
Factors That Promote Shiba Inu Growth
This token has a huge army of fans, which has grown to more than 1 million people and is committed to the continued growth of this currency in 2022.
Apart from the constant and main catalyst for the growth of the coin - the tweets of the world's richest man Elon Musk, the following 5 factors may well become the largest drivers of Shiba Inu's growth in 2022:
- The growth of users and fans of Shiba Inu, which is increasing every day. Thus, the coin will be accepted for payment of payments, possibly in the first quarter of next year.
- Transition to your own blockchain - Shibarium.
- Update - Oshiverse. The development of Oshiverse, or a video game that will be available to iOS or Android users on their smartphones.
- Listing on Robinhood. The SHIB Army is also looking forward to a possible listing of the Shiba Inu coin on the retail investor-operated trading platform Robinhood Markets.
- Bet on ShibaSwap. The ShibaSwap decentralized exchange will remain a potential catalyst for SHIB's growth in 2022.
Where to Buy Shiba in Kenya?
The token has been added to major cryptocurrency exchanges Huobi, Okex, Poloniex, KuCoin, Gate.io. The purchase of tokens must be carried out on verified exchanges. Such platforms provide financial transactions with a minimum commission. Among the largest exchanges, Binance stands out. The reliability of the platform is determined by the large volume of trades and the number of buyers. Binance is a popular cryptocurrency exchange.
A simple, safe and convenient way to buy Shiba in Kenya is a trading platform. On it, with the help of a reliable broker, you can buy SHIB using bank cards, electronic wallets Qiwi, Payeer. You can use CFD (contract for difference) - this is a way to buy cryptocurrency based on the difference in the value of the underlying asset, which is formed between the opening / closing of a position. Place your bet and go through the trade to success!
How to start investing in Shiba Inu in Kenya?
Cryptocurrency has evolved from a niche thing known to a small group of computer geeks to a wildly popular speculative asset class that requires a range of trading tools and options. So you've decided to start investing in Shiba Inu in Kenya. How to make money on CFDs? First, choose a platform where you can buy cryptocurrency.
Many traders are looking for cryptocurrency with established brokers via CFDs as this type of investment option has various advantages over buying and selling cryptocurrencies directly:
- Simple setup. Direct trading in cryptocurrencies is often fraught with technical problems. People who are not technically savvy are sometimes afraid of wallet opening procedures, the verification process, and other nuances. They tend to resort to trading platforms with extensive customer experience, easy account setup, and one-click trading features. In addition, those who trade CFDs on other products are more likely to use this tool to add cryptocurrencies to their existing CFD portfolio and benefit from their price movements.
- Access to leverage is probably the most popular reason to trade cryptocurrencies through CFDs. This tool allows you to trade with more capital than the trader actually has.
- Advanced technical tools. When trading cryptocurrency CFDs with a traditional broker, you have a wide variety of risk management technologies and tools, including stop loss and take profit tools. Given the notorious high volatility of the cryptocurrency market, they can come in handy and protect you from losses. At the same time, advanced charting tools and analytical support offered by brokers help make informed investment decisions and improve overall performance.
- More efficient regulation. Most CFD brokers are regulated by a reputable financial authority. This means that the clients of the trading company are better protected from fraud.
- Trading speed. Since you are not actually buying or selling digital assets with CFDs, all of your transactions are completed in two seconds on the broker's trading platform. This gives you flexibility and allows you to react quickly to market movements.
Should traders invest in Shiba in Kenya?
Investing in Shiba in Kenya is very attractive for traders because:
- You can buy billions of virtual coins!
- Promising price movements. One cannot but agree that Shiba has a promising future. Keep in mind that not too long ago, the coin had a 2,100% rise. And the market cap has soared to about $ 13 billion. This indicates that the asset has the potential to bring you a profit. However, you understand how volatile digital coins are. Prices can switch to a downtrend within a few minutes.
The emergence of Shiba Inu was very helpful, because many investors felt the fear of lost profits due to the success of Doge and tried to play it back on a new meme project, and each new listing on the exchanges raised the price of the coin even higher.
If you are planning to buy Shiba Inu remember - now it is a speculative asset that is backed by a large community.
The coin was created as an alternative to another speculative token DOGE. However, unlike Doge, Shiba is not supported by famous people who support him. Most of the people who bought it are the ones who missed Dogecoin's phenomenal growth and want to try their luck.
SHIB could boom in the cryptocurrency market in the coming months just like any other digital currency.
How to Buy Shiba Inu in Kenya right now?
People love SHIBA's still obscenely low price and the idea that over time it could make millions. At this price, everyone wants to buy it, but few want to sell it, but what if the coin really grows even more? And therefore, the main strength of this coin is in ShibaArmy, which continues to grow and which has made it its goal not to let go of the price.
Now you can try your hand at crypto trading with a reliable broker! If you understand correctly about future price movements and Shiba grows over the life of your CFD, the broker pays you the difference. Basically, you are betting on whether the price of an asset will rise or fall over a period of time. Since you don't have to own actual SHIBA to do this, Contract for Difference offers investors a hassle-free and easy way to profit from the changing conditions of the cryptocurrency market.
Try it! It is not that difficult and convenient! We wish you successful deals!